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nationwide strike. in september the baker's union reject rejected a contract. and instead 18,000 workers will lose their jobs which i guess is better. hostess will auction off its assets meaning many brands could survive under the ownership of new p cs. and demand for fox news is at an all-time high. >> i don't know anymore. where did that come from? we were always told when we were growing up like santa clause and the easter bunny that twinkies would out survive the human race. we found out one thing, the only thing that could kill them were unions. >> unions, who would have figured? the shelf slive what? depends on who you talk to but it is between 25 days and a couple hundred years. thank god i have an under ground boppinger where i have -- bunker where i have relocated to. there is a supply of twinkies and susie q's. i don't know if hostess makes them, but they are delicious. >> that is not actually a snack, but actual women. >> they are in my bunker. >> and they are all named susie. >> you will be there on wednesday? >> yes. >>> how can we live in a world without hostess? it was par
on behalf of the baker's union? >> it needs to be a pay cut or pay increase and he said, i might take what they are offering. they didn't even get a vote. >> we saw that at the democratic convention. >> i am talking about the secret ballot vote. it is over camille. is there any possible way obama shouldn't be impeached for this? >> well, if it is real. the whole thing is a hoax. i heard this news and i immediately ran to four different stores looking for twinkies, ho-ho's and totally sold out. this was a brilliant strategy on the part of the hostess executives, and clearly this is all fake. >> could it be that bob beckle went and ate them all? >> it is like the storm. i went looking for water, but went looking for twinkies or twins. >> you were the inspiration and are you taking it personally? >> i will always be an embodiment of twinkie the kid. >> a sponge-like treat. >> they actually did discontinue the sponge. i have no fear for these beloved products of yours. they will be bought by the highest bidder. the only real losers are, of course, the people who lost their jobs. >> 18,500 of t
. the executives said yes. the white-collar workers said yes. even the teamsters said yes. but the bakers union said no to a deal to keep hostess alive. what was that union thinking when it decided to play chicken with 18,500 jobs and then lose? in the next half hour i'm going to ask that union leader that question live on this program. and you don't want to miss it. now, let's do some stock market work following on our discussion about the fiscal cliff, how do investors play this ball game. here now is our pal done luskin, trend macro chief investment officer. you know, don, i'll start with you. i know you've got a million scenarios. but if it's all tax increases and no spending cuts, it just kind of makes me wonder how this can be good for stocks and the economy. >> it can't be good for the economy. look, for one thing, you raise taxes, it's not going to be good for the economy. i don't care what the so-called non-partisan congressional budget office says. that's ridiculous. any idiot knows you raise taxes, you retard economic growth. period. paragraph. as far as the spending cuts, they're no
with unionized workers. the bakers union is fighting to make sure its voice is heard in the bankruptcy proceedings. it wants to make sure its members get what they're owed in pension payments and other promised benefits. the union has asked the judge overseeing the bankruptcy to appoint a member of the union to a group of trustees managing the winding down of the company. as it stands how to, no union members sit on the company's board and in fact, take a look at this. look at that! kind of looks like the new chairman of the gop house committee, doesn't it? the hostess board is entirely white male business executives, no women no minorities. management has been called on to updating the product line and modernizing the plants and trucks. should unions be allowed even required to have a seat at the table? join meg now is larry cohen president of the communication workers of america. he is joining us from washington, d.c. tonight. larry, thanks for joining me inside the war room again. >> my pleasure. >> the hostess board is our point of entry for this conversation. it is made up entirel
hank in the balance. a judge just moments ago indicated that hostess brands and the bakers union have agreed to return to the bargaining table tomorrow. executives indicated it is too late to change hostess. the company behind wonder bread and twinkies, of course, the bakery workers went on week protesting huge cuts in pay and benefits. hostess blames the strike but union leaders blame corporate mismanagement saying a dozen executives got raises of 80 percent last year as the company struggled to survive. now several firms are reportedly interested in buying off some of their brands, including a firm based in mexico. trace has the news and he is live for us this afternoon. trace, if the two sides cannot come to terms here, what do we know of potential buyers? >>trace: the mexican company is the world's largest bread baker and they owe major banks like thomas english muffins and sarah he and foreigns "forbes" e is reports another company, sun capital, is interested. the bakers hope they keep the company intact and rehire the union workers but the c.e.o. of hostess says that is not like
member of the bakers union is here. if the union allowed a vote on the deal, would the strike be over? >> i can't wait to talk to him. >>> later, does walmart have a case? the retail giant trying to prevent its workers from protesting outside its stores because they don't want to work on thanksgiving. we'll have the latest developments on that continuing, evolving story as well. >>> later, nintendo is out with a new video game console it hopes will be a game changer this holiday season. we'll talk to the head of the u.s. division dwigs about whether it can play catch-up to microsoft. >> pisani's ours. you are a bus. governor of getting it done. you know how to dance... with a deadline. and you...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. this is awesome. [ male announcer ] yes, it is, business pro. yes, it is. go national. go like a pro. ♪ [ male announcer ] this is karen and jeremiah. they don't know it yet, but they're gonna fall in love, get married, have a cou
,000 employees. the "fox business" network's rich edison has more. what are the bakers union and the hostess companies saying tonight? >> that it's the other side's fault. hostess says union workers paid benefits and work rules were too expensive and unsustainable. some of the company's union workers agreed to management's offer. its bakers union refused and hostess blame that had strike for crippling their business. the bakers union president pinned it on management, saying in a statement, our members decided that they were not going to agree to another round of outrageous wage and benefit cuts and give up their pension only to see yet another management team fail and wall street vulture capitalists restructuring specialists walk away with untold millions of dollars. analysts point to factors like higher costs for fuel, ingredients and strong competition. >> harris: i understand that if they're going to sell themselves off in parts, that would mean that some brands would stay. we might still be able to get twinkies? >> that's right. twinkies, wonder bread, cupcakes. there's a market there.
president of the bakers union. >> the members knew that that could have happened when they implemented this. so they knew it we are still here, 24-7. but what will be the process. >> workers went on strike when they tried to cut salaries. here is video of the facility in oakland where workers are protesting this morning. kron4's justin waldman talked to a truck driver who lost his job after seven years with the company. he says he's not sure how we will pay his rent. >> the dates me a phone call and say to not come back. they have locked the doors, even guys that have worked there for 30 years, no severance, nothing. >> fans ran to the store in san leandro today stocking up on their favorite snacks shelves for empty people were filling carts and things like twinkies and ding-dongs many say that the tree for part of their childhood. >> i grew up with the cupcakes with the cream in the center and it is a loss. and i feel that some other company will pick it up and produced a hostess name is been around too long. >> they say nobody is waiting in the wings but if there is interested in some of
enough bakers union employees crossed the picket lines to maintain normal operations. it is really down to a third of our plants and some critical plants where we are manning with management team and we don't have enough people to go around to keep all those running. dennis: now the 12 of the 36 plants where even though the bakers union said strike they are crossing the picket line. you told me teamsters the toughest union in the u.s. i think the teamsters are crossing picket lines at those plants as well? >> system wide the teamsters are not honoring the strike by the bakers because they understand clearly and they voted to accept the wage concessions because they understood clearly that failure to do so will mean 18,000 people out of work including teamsters bakers other unions and non-union employees. dennis: teamsters even giving on the health plan where the company had paid out 100 billion dollars over half of it went to retirees that never worked for hostess they were teamsters, then the company get stuck with bills with other people, the teamsters agreed, but then the bakers bolt
chance to buy the baked goods, hostess' ceo put blame squarely on the strike by the bakers union. >> the leadership threatened to fine them if they crossed the picket lines. we've had a number of them cross their own lines this week. >> reporter: earlier this week even as hostess closed three plants the bakers union remained defiant saying in a statement its members were not willing to take draconian wage and benefit cuts on top of the significant concessions made in 2004 and give up their pensions so that the wall street vulture capitalist in control of this company can walk away with millions of dollars. last spring the wall street journal cataloged how hostess' acquisition of bakeries around the company saddled it with cumbersome obligations, 40 pension plans, 5,500 delivery routes, a system so inefficient bread truck drivers were sometimes prohibited from carrying twinkies and twinkie drivers banned from carrying bread. >> unions can survive an industry that have monopolies where they earn high profits like utilities, for example, but unions just crush companies that are in
of "twinkies." with the bakers union on strike. greg ayborn warned that unless the bakers would compromise, the company would fall apart. the workers didt listen. with more on this, we have seen stephen hayes, senior writer of the weekly standard. great having here. lots of pleasant people. happy faces. do you by? >> in one word, no. i do not. i think this is exactly what you get at the very beginning stages of these talks. for the exact reasons you suggest. no one is getting any detils right now. all they agreed on was the basic framework for moving forward. whereas speaker boehner said we need to do this in the short term and we need to get beyond the fiscal cliff. in 2013 come we can talk about serious tax reform and serious entitlement reform. it is sad that tte president wants to do that. he has been insisting on these rate hikes. gerri: listen to the president talkinabout compromise. >> our challenge is to make sure that we are able to cooperate together. work together. find common ground together. make tough compromises together. build some consensus. in order to do the peoples busi
ask you how this plays out. if the requisite number of bakers, union people, do not return to work this evening, what happens next? >> we'll file a motion to wind down the business with our bankruptcy judge, judge drain, here in new york. and he will probably hear that on monday afternoon. and he will probably grant that motion to wind down because, frankly, there will be no other option for the business. >> and so roughly 5,500 bakers lose their job or is it the whole 18,000? >> all 18,500. >> and they know this, do they not? they'd rather have no job, taking the same concessions that the teamsters took rather than a job? they know this? >> i would think that they would have to know it. whether they believe it or not, i don't know. i question whether union leadership actually cares about these jobs because, frankly, it doesn't seem to me that they do. i think they're more concerned about having a precedent set so that other competitors can come to them and ask for similar concessions. i don't see that happening because other competitors aren't in bankruptcy. but i don't see where
over the course of years three times. this is to save 5,000 jobs. the bakers and confectioner's union saying they are going to take no responsibility whatsoever for their economic fate, they are going to take no responsibility for the teamster's union which had already agreed to the rollbacks in wages over the course of three years. they are wiping out the jobs singl single-handedly by their act of 18,500 jobs. it has nothing to do with bain, has nothing to do with history, this is what they faced and chose to do. height of irresponsibility. >> do you think they believed the company when the company said we are telling you we are going to file for bankruptcy if you don't back off of these demands, you few thousand are going to cost the jobs of 18,000 if you don't back off this demand. >> the head of the baker's union, they knew the end of the company was at hand, they knew what the consequences would be. this is not one of those situations where they can say we just didn't realize the implications. they knew full well, they analyzed it. they are looking at the same numbers as manageme
his job was not worth saving? find out if he's angry that the head of the bakers union didn't bother attending the last-ditch mediation efforts yesterday. stay tuned. or that printing in color had to cost a fortune. nobody said an all-in-one had to be bulky. or that you had to print from your desk. at least, nobody said it to us. introducing the business smart inkjet all-in-one series from brother. easy to use. it's the ultimate combination of speed, small size, and low-cost printing. >>> take a look at hewlett-packard today. making a slight comeback, up 2.5% after yesterday's double-digit loss. the debacle, of course, after the company announced an $8.8 billion write down to the ill advised autonomy acquisition. in the last year, the stock is down better than 50%. >> yeah, but we're not finished. since mark hurd was forced out as ceo due to what was deemed as an inappropriate relationship, that stock is down over 70%. the missteps for hp since then have been historic and costly for them, all of them famously covered on this program. in fact, we put together some of the low lights. t
the union leader did not show up to those mediation talks? >> well, the leader of the bakers union sent his second in command to the meeting. i think that part of what we needed to sort of focus on is the hole that's been created by the strike and the financial damage from that strike and our inability to produce at some of our critical plants. really just created a brand new hole that was too large to fill. bankrupt companies don't have a lot of margin for error to begin with. if you take a shot like that, it's going to be hard to climb out of that. >> so what happens now? i guess talk to us about how you got here. >> well, for now we're going to focus on trying to find homes for the brands. we have had an enormous amount of interest in the brands, especially now that they're sort of unencumbered by union contracts, antiquated plants and pension plan liabilities. we've got buyers everywhere from strategics to financials, a number of in bounds. we haven't started the outbound process. what we're going to try to do from here is very quickly, because we're off the shelves now, so the value wi
to mediation with its bakers union. we have the latest next. that means so far twinkies live to see another day. we'll see. plus, what hostess workers rather see the company fall rather than take the deal with lower pay and lower benefits? one of the workers is here and he's mad. tdd#: 1-800-345-2550 this morning, i'm going to trade in hong kong. tdd#: 1-800-345-2550 after that, it's on to germany. tdd#: 1-800-345-2550 then tonight, i'm trading 9500 miles away in japan. tdd#: 1-800-345-2550 with the new global account from schwab, tdd#: 1-800-345-2550 i hunt down opportunities around the world tdd#: 1-800-345-2550 as if i'm right there. tdd#: 1-800-345-2550 and i'm in total control because i can trade tdd#: 1-800-345-2550 directly online in 12 markets in their local currencies. tdd#: 1-800-345-2550 i use their global research to get an edge. tdd#: 1-800-345-2550 their equity ratings show me how schwab tdd#: 1-800-345-2550 rates specific foreign stocks tdd#: 1-800-345-2550 based on things like fundamentals, momentum and risk. tdd#: 1-800-345-2550 and i also have access to independent tdd#: 1-800
for the last chance to buy the snack. and the bakers union refused concessions in an injury saturated with overcapacity. >> the leadership threatened to fine them, if they crossed the lines and bakers cross their own lines and we've had a number cross their own lines. >> even as the baker closed plants, bakers union were defiant members were not willing to take draconian wages on top of the cuts in 2004. and the pensions and the wall street venture capitalists in control of the company could make millions of dollars. >> and the acquisitions of bakeries around the country, saddled it with union obligations and bargaining agreements, 40 different pension plans and 5500 delivery routes, a system so inefficient that bread truck drivers were sometime prohibited from carrying twinkies and the twinkies drivers prevented from carrying bread. >> unions just crush companies that are in very competitive injuries like the food industry. >> another company may buy out hostess and continue producing goods, but one entrepreneur is not banking on that, he's auctioning off a ten back of the last twink
that the smaller bakers union would not try to-- by the way, hey, since they're grinches, and they're-- >> oh, taking-- >> they also make yodels, bucko, great, great and baked by hostess, so-- >> and this is in horrible shape, and did you smash these. >> the last two in the vending machine. you know who sold them to me, andrew white, the guy in the video. >> pay $75 for these. >> ben stein, what does it mean now? obviously, you know, someone will try to scoop up-- it's a well-known brand name, maybe try to make a go of it in a different life, but-- >> they're still planning a very rich sugary foods out there and i have to say i'm not as thin or fit as charlie, but i happen to love them and i love sugar altogether. but, the unions are just too aggressive in cases like this. what could their possible rational be for putting their own members out of a job. how do you explain to a man or woman who can't feed his or her family hey i put you out after job to demand more money for a job you don't have any more. how do you explain that. >> neil: adam. >> this is a gross oversimp oversimplification of
filed a lawsuit saying it violates civil rights. >>> 11th hour struggle between hostess and bakers union has failed, 18,000 workers, including several hundred in oakland stand to lose their jobs. maker of twinkies, ding-dongs and wonder bread say talks broke down yesterday without agreement. the company will head to bankruptcy court today with the intense of selling off its assets. >>> shoppers who decide to brave wal-mart stores thanksgiving night could be welcomed by other than the greeter protesters plan to picket 1,000 stores. federal labor officials don't expect to have a decision today they say the situation is complex the largest employer does not recognize an official workers' union and claims the picketing is illegal. the group says it wants to inform customers about low wages and unfair conditions for wal-mart workers. >>> we've compiled a list of stores opening thanksgiving day on abc7news.com, you can browse black friday sale ads. >> did i already give it my seal of approval? >> you did. >> okay. next, brazen theft caught on video. are your holiday packages safe? tips to prot
permission to shut down. it was unable to reach an agreement with the bakers union. the judge hearing the bankruptcy proceedings urged both sides to try one last time to reach a deal. 18,000 jobs across the country will be eliminated. hostess is willing to sell off the recipes. >>> that is after they staged strikes at eight hospitals and two in san jose operated by hca. it is the seventh strike in three months. nurses are upset after the hospital implemented parts of the nurses contract that are in dispute including fewer days off and the loss of some health benefits. the hospital says they need to cut costs because of the current economic situation. >>> san francisco is one step closer to telling nudist to cover up. >> shame on you. shame on you. >> at the board of supervisors meeting yesterday unhappy nudist stripped down only to be covered up and escorted out by security. the board voted 6-5 to prove a ban on public nudity. >> i think that the people who are afraid of nudity should reconsider their position. there is nothing wrong with being nude. we were all born nude. >> we're in
with the bakers union, that could be part of the company's troubles. they kind of lost some of their appeal as people got more health conscious. >> he's busy heating right now. >> a twinkie. >> davey cheney posted on wonder bread. classic. and samuel writes, hostess honey buns are the best ever. and sherry adds, i remember as a kid, going on a field trip, the wonder bread factory. the smell was awesome and everyone got a warm slice of bread at the end of the turn. share your memoriesen to our wusa9 facebook page. >> i think i'm gonna try one of these. >> she's gonna do it. >> i'm gonna do it after the show. work first, pleasure later. >>> derek started talking about the potential of a hostess bankruptcy back in january. what he said then still holds today. >> reporter: up at the corner store tonight, no hostess. instead, they had mrs. freshly. really? yeah, really. these gooey marbles you see here may have been at one time the only game in time when hostess invented them back in the day. but these days you've got everything from the fancy frosted pretzels to cinnamon buns. it's part of the
. the company and bakers union had entered mediation in an effort to try to save over 18,000 jobs. >>> president obama is calling on congress to follow the example set by former u.s. senator warren rudman of new hampshire who called for bipartisanship during his time in washington. he passed away on monday from complications from lymphoma. he warned against large federal deficits and was a fierce critic of the reagan administration in the 1980s iran-contra affair. >> the american people have the constitutional right to be wr g wrong. and what ronald reagan thinks or what oliver north thinks or what i think or what anyone else thinks makes not a whip if the american people say enough. there comes a point that the views of the american people have to be heard. >> the new hampshire senator didn't seek re-election in 1992. later saying "i can see the republican party gradually being taken over by movement conservatives and self-commissioned christian soldiers whose social agenda i found repugnant." warren rudman was 80. >>> as the president considers his cabinet for a second term, the "wall street
. >>> the bakers union is on strike tonight at hostess brand bakeries across the country. as jana katsuyama reports the company that makes everything from twinkees to sour dough bread is in danger now of folding. >> reporter: workers chanted on the picket line near a line of delivery trucks idle and empty. >> we're taking the sacrifices for the mistakes of the ceos. >> reporter: most of the plant's 70 workers are joining a nationwide strike. 6,500 members of the bakers union walked out. hostess bound which makes twinkies, hoho bread filed for bankruptcy. and a court deal is not so sweet. it involved 80% pay cut, no over time or holiday pay. >> at least half of these people were supposed to retire this year and last year and they weren't able to retire because of the stop in the pension. >> i have three kids, i have two kids and one girl. i have two in college right now. >> reporter: today hostess closed plants due to the strike and a spokesman says the company could fold. >> if the strike continues along the same lines. we will be facing the liquidation of the entire company within a matter of days
more day. a judge will proctor talks between hostess and a baker's union. here is what hostess ceo had to say today. >> i'm happy to participate in a process where we can explore any possible solution. anything that gets people back to work, i'm all for it. but i can't handicap how it's going to go. >> if the two sides don't come to a deal, then they will reconvene to discuss how to shut down the operations. but in that case, sources say multiple buyers could be waiting in the weings for hostess's assets. they want in on the twinkie and wonder bread brands just not an entire corporation associated with union contracts as well as a massive debt load. larry, back to you. >> many thanks. now, should federal workers get a raise? are you kidding? employee unions say yes but the real numbers paint a completely different picture. that's coming up next. [ male announcer ] how do you trade? with scottrader streaming quotes, any way you want. fully customize it for your trading process -- from thought to trade, on every screen. and all in real time. which makes it just like having your own tradi
, did grow to concessions. it was the one union, the bakers union who said, maybe they think they will get a better deal in liquidation and there was some bad blood there, as well, but, this is going to be interesting to see how it shakes out. >>trace: and steam materials were calling out the bakers union to say look, you are not helping the cause. i want your take on walmart, you get a lost attention because it is black friday and you walk out, do you your sex a diss is because at the same time you are getting a lot of attention you are annoying a whole lot of shoppers. >>guest: we have not seen what will happen yet so there are threats or promises there could be protests and up to 1,000 walmart outlets but i am not sure, a lot of employees are asking themselves, they are saying, do we really want to be on the wrong side of shoppers and tush public attention against us. they are trying to draw attention to their cause, better work, better pay and better work conditions but i don't think standing in front of all the shoppers trying to get the door buster deals on black friday
but the bakers union which is about 30% of our workforce decided to go on strike last friday despite the fact we've been straightforward that a strike would cripple the company and cause a liquidation. i don't know if they thought that was a bluff or there was some other better outcome but that's essentially why why where we are today and the company will be liquidated. >> you'll be laying off most of the 18,500 workers. you had a conference call with employees earlier this morning. what was the reaction? >> people are devastated and you know, you're exactly right, essentially people are going to be sent home today and so i'll restate it, about 30% of our workforce has put 18,500 people out of a job, and that's a lot of families. we had people working very hard this week to try to overcome the strike, management running in the plants, we actually had bakers crossing their own picket lines because they wanted to keep their job but you know, again, there's no -- when a company is in bankruptcy, it has really no margin for error to begin with, and a strike like this impacted sales and impacted our
in incentives and bonuses to 19 managers, the management says the bakers union forced the liquidation while the union workers blamed bad management. joining us now, the author of the state of the unions, and always a defender of the unions on this program. and phil, welcome back, good to see you again. >> good to be with you, stuart. >> are you going to tell me that hostess is done in by bad management and no justice because they got pay increases and bonuses just before the close of business? >> oh, as issue, stuart, i tried to have a balanced and fairview here, look in any one of these cases there are several possibilities and i think all apply here. one is that management is either being overly demanding or trying to compensate for poor management and take it out on workers, the union can be unreasonable or social and economic trends can simply have done the company in. and i think all three of them are here. >> you wouldn't say that the unions really did it in, because they would not allow hostess to offer it efficiently, you know about the problems, a driver of one hostess truck could
. talks with the bakers union to keep the company alive have failed, hostess is it gone. bakeries closed, 18,500 jobs thereabouts gone. a terror attack inside israel. a bomb on a bus in tel aviv. ten injuries reported. secretary of state clinton is in jerusalem and she goes to cairo today. this is "varney & company," an all star, pre-holiday lineup. here we go.  >> top story. the unions are excertifying maximum pressure right now the at worst possible time. people want to shop and unions are making both difficult. sciu expects more than a thousand marches at los angeles international airport and say the company they work for, a contractor for the airport broke the union and took away health insurance and demonstrating. and protests planned at o'hare in chicago. a new company providing custodial services there, nonunion, protests. and a strike, and another one at the port in portland. and a huge protest planned at one thousand wal-mart stores on friday. workers angry about wages and benefit and threaten to tie up wal-mart parking lots on what is a crucial shopping day and hostess, the
in the bakery union failed to reach an agreement. a short while ago we learned hostess and the bakers have agreed to mediate, but all is t yet solved in the twinkie world. are the unions to blame for all this? my next guest is back to disagree with me. i can't wait to hear your opening argument, seems pretty cut and dry to me. they went out to strike. they said if you do this, we don't have the money to continue. and that is exactly what happened. and welcome to the show. >> thank you for having me, melissa. looking not just at yesterday's news, but take a look at hostess. huge concessions from working men and women and go into bankruptcy. let me preface this by saying i don't think the unions didn't make mistakes but let's look at management. the "chicago tribune" editorialized about the executives shortsighted and taken money out of the company. they have an older product, they haven't marketed it and yet we blame men and women for closing the plant? there's enough blame to go around. i hope through this mediation the unions with her two brothers and sisters that were able to negotiate a
. >> that is the unions with the drivers. melissa: i'm talking about everybody. >> they were critical of the bakers union for going on strike, that is what i said to this union would get together with that union and talk about moving forward, i think that would work. but it is not true to say the union shut down hostess. they have been in bankruptcy since 2009, they have not innovated their products were done capitalistic things that have succeeded in the marketplace and are getting outrun by their competitors. that is what drove the market company down. melissa: now they're going to shut down and sell off the land piece by piece and someone else is going to open up a business and make a key somewhere else and you can bet your bottom dollar they will do it without the union so at the end of the day to the unions do a service to their men and women that they're supposed to be representing? >> speak articulate a position o have to ask them for wages because the abuse of executives before them. that did not make the news when detectives were pulling money out and not investigated the company. i don't know a
agreed. the big one here agreed. it was the baker's union that said no deal. exactly what happens, 372 collective bargaining agreements. this is how complicated this had become for hostess and their unions. 40 different pension plans. 5500 delivery routes. it's so complex that we have been even been told that the union wouldn't allow you to carry bread and twinkies in the same truck, in the same delivery truck. >> separate trucks and separate routes. >> this is a company trying to make cuts and trying to stay alive. couldn't do it. >> make cuts because of the economy and obviously other issues. obviously the price of food stuffs has gone up. this was a factor also affecting them. and not only food stuffs going up and cost to put all of this stuff, sugar costs going up and everything else into their food, that going up. also people just not eating as many twinkies these days. >> people's eating habits have changed. the union for whatever reason didn't want to keep up that that. the union blames mismanagement at hostess. they said they had seven different ceos in the past 10 years. they
their jobs because the bakers confectioners tobacco workers and grain millers international union couldn't reach an agreement with the manufacturers of twinkie and coffee cake and wonder bread and all of this. they were this close. the teamsters had already agreed to the conditions that would have allowed them to all keep their job but then this much smaller union said no, we don't like the agreement. we don't like them. >> we don't like the 6% cut. >> in their benefits. >> they wanted more dough. >> that is genius. >> it was made in social media heaven, this story. twinkies trending still to this point worldwide. so, but, look, this was about the union just saying no, we will not give in on this point and now hostess says we have no other choice. we cannot continue to be a profitable company. we have no choice but to shut our doors. and then, again, to alli's point, the teamsters agreed. the big one here agreed. it was the baker's union that said no deal. exactly what happens, 372 collective bargaining agreements. this is how complicated this had become for hostess and their unions. 40
. the future of hostess up in the air as the company and its bakers union entered mediation talks. kayla is here with the latest on whether the twinkie and wonder bread will survive. >> well, mediation is taking place as we speak at law firm jones days offices in new york, essentially a chaperoned negotiating session between hostess and its bakers union which has voted against previous wage and pension cuts, forcing the company toward liquidation. because the meeting is closed to the public, we won't know whether they were able to reach an agreement until the session has ended. they've been camped out at those law firm offices since 1:00 p.m. today. mediation was requested by a u.s. bankruptcy judge yesterday who noted a private negotiation had not been attempted and should be before 18,000 jobs are put to pasture. we spoke to the ceo outside the courthouse yesterday. he said he would support anything that saved jobs. several potential bidders could take twinkies and other brands off of hostess' hands, only if it liquidates. they could kick the tires on an investment, but it's unlikely t
if they were to be in agreement in the near term talking about with the bakers union shuttering last week after failing to reach concessions from the bakers union. they can no longer afford the operations along with the heavy debt they're saddled with flairr filing for bankruptcy to liquidate. the bakery union lawyer saying they have been crystal clear as to what they believe will be done. fiscal cliff closer to these two sites. also, because the judge urging hostess, unions and lenders to come to an agreement in private mediation. the bankruptcy judge does not have the power to a join a strike, but it's financial penalties. one of the possible suitors to keep the twinkies and ho ho's alive. shares up 6% today. they jump on friday as well, as you can see on your screen right now. the judge wants them to settle it in mediation. we will see if they can get it done together. tracy: about losing my job because of the union union, i we so mad right now. >> will have to see if they can cook up an agreement. tracy: not to mention the loss of the twinkie. thank you for all that. oil surging today as te
says it was already unprofitable and could not with stand the ongoing strike of the baker's union. de spite the news union employees continued to picket today saying they won't stop until the court makes it official. people on both times say the timing of the closure is unfortunate leaving so many unemployed before the holiday sgls we had a plan to emerge. we had lenders that would finance us if wektd get the union on board. we couldn't get the bakers on board. >> it will be a difficult time for our member bus they knew what was going to happen and they voted for this. >> you have to keep strong for -- christmas coming. i know it's very hard. >> i won't be able to raise my kids you know the way i was raised. i was raised on all of this, hostess, twinkies, and now it's over. >> the plants have been shut down and the workers told to go home were told official termination notices could come next week meanwhile the bakery thrift shops there stay open a few days at least until the last of the baked goods are gone. ann ruben, ktvu channel 2 news. >>> some die hard hostess fans were at an ou
at a deal regarding pay and benefits between the bakers union and the company. now more than 18,000 workers could be unemployed. who is to blame? both sides seem to be pointing fingers at the other. the union says corporate execs created business plans that were failures. hostess says striking workers dealt a death blow to the company, which was too financially unstable to survive this strike. joining us, the ceo of hostess brands. glad you could be here with us. explain to us why was it that hostess and the union could not come up with some sort of agreement, a deal, to save these people's jobs? >> i wish i knew the answer to that, suzanne. i mean, i think that the reality is that we actually had deals with our largest union, the teamsters. it was really the bakers union, our second largest, that rejected the deal. we had 12 unions in total. we had several other unions accept the concessions. i don't understand the logic behind the bakers simply rejecting the contract and striking and forcing the liquidation. >> you're the ceo. certainly wasn't there any wiggle room on the company's side?
of twinkies, hostess brands is permanently closing three bakeries following a nationwide strike by its bakers' union putting more than 600 people out of work. it has prevented it from producing and delivering products. >> coming up the latest on alex smith and gary is next with sports. [ male announcer ] steak combos. featured now at sizzler. tri tip sirloin with fried shrimp, malibu chicken, or grilled shrimp. starting at just $9.99. sizzler. (male announcer): now, here's stanley roberts who found people behaving badly. >> this man is on his cell phone while driving. i am watching and along with the chp. >> go ahead and call it over. >> the cellphone law has been on the books since 2008. and the notes texting loss since 2009 but in some portions of the bay it has been completely ignored. >> you are being stopped for the handsfree law. >> apparently the driver had an emergency. >> what kind of an emergency? >> i have a restaurant and i have a gigantic plumbing lake. >> let's have a chat with him. >> how are you doing. >> not good. >> all i know, not a good day but where are you from? and i am
. another strike, bakers union strike threaten the future of twinkie. we'll tell you about that. ♪ ♪ ♪ we're lucky, it's not every day you find a companion as loyal as a subaru. love. it's what makes a subaru, a subaru. as part of a heart healthy diet. that's true. ...but you still have to go to the gym. ♪ the one and only, cheerios social security are just numbers thinkin a budget.d... well, we worked hard for those benefits. we earned them. and if washington tries to cram decisions about the future... of these programs into a last minute budget deal... we'll all pay the price. aarp is fighting to protect seniors with responsible... solutions that strengthen medicare and... social security for generations to come. we can do better than a last minute deal... that would hurt all of us. but i'm still stubbed up. [ male announcer ] truth is, nyquil doesn't unstuff your nose. what? [ male announcer ] alka-seltzer plus liquid gels speeds relief to your worst cold symptoms plus has a decongestant for your stuffy nose. thanks. that's the cold truth! without freshly-made pasta. you could also c
in oakland. pl the baker union is revving to accept an 8% pay cut with 20 percent decrease in benefits. >> on my check it's calculated about 6 80 dollars a month out of my check. that's take home pay. >>reporter: union workers say they are prepared to find new work if hostess shuts down. many hostess fans are not prepared to accept it. >> just as much as apple pie and chevrolet. it's a staple. something has been around for many, many, many years and it just simply can't go away. >>reporter: i spoke to the an oakland union leader few moments ago. he says they are still on the picket line tonight and they believe hostess is bluffing in their threat to file for bankruptcy. we'll find out tomorrow reporting live in berkeley, abc 7 news. >>> thank you. 4 people died, 17 hurt when train ram a parade float of wounded vet fans texas and tonight investigators may have an important clue into what happened. locomotive cab has a camera that may contain video of the incident. initial reports indicate the gate and crossing lights were working. witness say many of those who could jumped off th
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